China buyers drive silver prices higher

Section:

By Rhiannon Hoyle
The Wall Street Journal
Monday, July 4, 2016

SYDNEY, Australia -- The price of silver surged to a two-year high on Monday as buyers in China made bold bets in the futures market and scooped up vast volumes of physical metal.

Spot silver, the price paid for immediate delivery, rose as much as 6.9 percent to an intraday peak of $21.132 a troy ounce, its highest value since July 2014, as the Shanghai-traded benchmark futures and physical silver contracts reached their limit.

On the Shanghai Futures Exchange, the most actively traded silver futures contract jumped for a fourth straight session on Monday, hitting its 6-percent daily maximum at opening to reach 4,419 yuan ($663) a kilogram.

Monday's moves were buoyed by investors seeking haven assets and speculation about further monetary easing worldwide. ...

... For the remainder of the report:

http://www.wsj.com/articles/china-buyers-drive-silver-prices-higher-1467...



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